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The Container Leasing Market size is estimated to grow by 32.86 million teu between 2022 and 2027 accelerating at a CAGR of 16.52%. The primary factors driving the market growth include growth in international containerized seaborne trade, rising dominance of leasing players in the global reefer container market, increase in the number of free trade agreements and the formation of trade blocs.
This container leasing market research report extensively covers market segmentation by Type (dry containers, reefer containers, tank containers, and special containers), Application (food transport, consumer goods transport, and industrial product transport), and Geography ( APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Container Leasing Market Customer Landscape
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The demand for international containerized seaborne trade is the key factor driving the global container leasing market growth. Global international seaborne trade depends on the global economy and trade. An increase in trade activities along with economic output will improve the growth in global seaborne trade, which relies on the use of containers for the movement of goods. Besides the increase in the use of containers in international seaborne trade has led to an increase in the demand for container leasing. Customers prefer leased containers over self-owned containers to achieve economies of scale, especially when the volume of goods to be transported is low. These reasons will drive the growth of the market during the forecast period.
The rising popularity of intermodal freight transportation is the primary trend in the global container leasing market. Intermodal freight transportation does not require the cargo inside the containers to not be handled or opened in transit. The goods can be safely delivered from one region to another during transit. This is driving the demand for intermodal freight transportation.
Both multimodal and intermodal freight transportation use multiple modes of transportation for the movement of cargo. These modes of transportation include the movement of containers via road, rail, sea, and air. Since almost all the containers are manufactured with similar specific dimensions and possess similar handling characteristics, it makes it easy and convenient for shippers to transfer the goods in intermodal freight transportation. Therefore, with the growth of intermodal freight and multimodal transportation, container leasing is also expected to increase during the forecast period.
The fluctuation in container leasing rates is a major challenge to the global container leasing market growth. Container leasing rates are primarily dependent on the prices of steel that are used for manufacturing shipping containers, as well as on global trade and the demand for supply of containers. At the beginning of 2020, vendors operating in the global container leasing market faced various challenges, such as the decline in global trade volumes since 2019, an oversupply of containers, and a decline in global steel prices, which, in turn, reduced container prices and encouraged shipping companies to purchase their own containers rather than opt for leasing them. The reduction of the lease rates will increase the ROI period for lessors. Thus, a longer period to get the ROI for lessors will affect their liquidity or cash flows. Moreover, container lease rates are highly dependent on global steel prices, and a reduction in steel prices has led to a decline in demand for leased containers during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CPI Group- The company offers hyperspectral imaging through its devices such as UV-VIS-NIR hyperspectral video imager, ULTRIS X20 Plus, ULTRIS 5, FireflEYE 185, etc.
EXSIF Worldwide Inc.- The company offers hyperspectral imaging through its devices such as UV-VIS 250-500 nm, VNIR 400-1000 nm, Ext-VNIR 600-1700 nm, NIR 900-1700 nm, and SWIR 900-2500 nm.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
Based on type, the market is segmented into dry containers, reefer containers, tank containers, and special containers. The market share growth by the dry containers segment will witness growth during the forecast period. Dry cargo containers are designed and constructed to transport non-perishable cargo using intermodal freight transportation via sea, road, and rail for better readability. Such factors will increase the growth of this segment during the forecast period.
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The dry containers segment was valued at 12.77 million teu in 2017 and continued to grow by 2021. The growth in demand for dry containers mainly stems from countries such as China, India, Australia, Russia, the US, Mexico, South Africa, and Brazil. This is because of the significantly large population in these countries, backed by the high demand for commodities such as agricultural products, electronic goods, textiles, and other non-perishable goods. In 2020, China, India, the US, and Brazil were among the largest producers, consumers, and importers of food products. Non-perishable agricultural produce is majorly traded using dry containers. Wheat is also transported using dry containers. Thus, the growth in the production of wheat and other non-perishable products will drive the dry containers segment of the global container leasing market during the forecast period.
The food transport segment of the global container leasing market holds a larger market share in 2022. The growth of the segment is fueled by the growing demand for packaged foods in different parts of the world. Leasing containers gives more advantages than buying one, most importantly time flexibility offered by leasing companies. Leasing container gives power to vendors to increase the number of containers without getting worried about the cost. Packaged foods mainly include ready meals (RTE), RTE preparations, frozen meals, cake mixes, snacks, and desserts. Growing demand for these products is expected to compel manufacturers to increase production capacity, which, in turn, will increase the demand for container leasing for food transport during the forecast period.
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APAC is estimated to contribute 47% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
The container leasing market in APAC is driven by the presence of countries such as China, India, Australia, Malaysia, Japan, and Singapore, which are expected to witness the development of port activities, increase in the volume of containerized goods, and growth in the manufacturing industry during the forecast period. The increase in the volume of containerized goods handled in countries such as China, South Korea, Japan, Singapore, and India is significantly driving the growth of the market in the region. This increase in the volume of containerized cargo will facilitate the growth of the container leasing market in APAC during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for APAC. However, in Q3 of 2020, COVID-19 vaccines were introduced in the region, which led to the removal of lockdown restrictions. Owing to the removal of lockdown restrictions, trade activities were rescheduled, which led to increased demand for container leasing. China and Australia are expected to invest in port infrastructure to improve their economy through trade, which will help the market recover during the forecast period.
The container leasing market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Container Leasing Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.52% |
Market growth 2023-2027 |
32.86 mn teu |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
14.92 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, Japan, Singapore, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Atlas Logistic Network, Blue Sky Intermodal (UK) Ltd., Brambles Ltd., CARU Group BV, CPI Group, CS Leasing, EF International Ltd., EXSIF Worldwide Inc., Florens Asset Management Co. Ltd., Green Processing Co. Inc., Mitsubishi HC Capital Inc., Seaco Global Ltd., SeaCube Container Leasing Ltd., Textainer Group Holdings Ltd., Touax SCA, Trident Container Leasing BV, Triton International Ltd., UES International (HK) Holdings Ltd., and Waterfront Container Leasing Co. Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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